In short, home flipping is all about buying homes to sell them for a profit later on. The typical time between the initial purchase and the resale is from a few months up to a year.
This period is used for renovating and repairing the purchased home. Depending on the particular home, the effort involved could be anything from cosmetic touches to serious remodeling projects.
In this article, House Match Real Estate lists the top renovation ideas to make your next home flip a big success. Follow these suggestions to make the right kind of renovations that will raise the home’s value and achieve the greatest buyer’s appeal.
The quality of your flooring is very important. When you bought a home with worn and shaggy carpet, you need to replace the outdated flooring with a modern solution. For instance, you can install hardwood flooring for an upscale look.
The flooring material may already be laminate or hardwood, but if it is heavily worn, you should still seek to replace it. This is the only way to boost the value of your purchased property.
- Install real solid wood flooring for a luxurious and beautiful look that will stand the test of time.
- Consider laminate flooring because it easily mimicks the upscale look of a hardwood floor. The installation is easy and you can lay them over any subfloor.
- If you want the home to stand out from the competition, install stone flooring. This is an incredibly beautiful and strong material, which is appealing to home buyers looking to purchase an eco-friendly home.
- You can leave the carpet flooring in the bedroom. Compared to other rooms in the house, the bedrooms are least likely to be negatively evaluated if it has carpet flooring.
Many buyers focus on the look and appeal of the kitchen. There are numerous ways you can make the kitchen look fresher and more appealing to your prospective buyers.
While it’s true that kitchen renovation can be one of the most expensive projects to undertake, the return of your investment can be significant. Just take a closer look at some of the possible improvements you can make in the kitchen:
- Purchase a new stainless steel sink and fully upgrade all the kitchenware.
- Take steps to make the kitchen bright and airy: use bright colors, rearrange the furniture, and create extra storage space.
- Install a new backsplash tile that uses patterns or colors matching with the overall design scheme of the kitchen.
- Remove any components from the kitchen that have been damaged or have become simply outdated.
A considerable number of house flippers completely forget about their property’s exterior. This is a big mistake. At first, the exterior may not seem that important compared to the living spaces. In reality, it’s the first and last thing that prospective buyers will see.
First impressions truly matter. That’s why it pays to spruce up the home’s exterior. You may opt for minor tweaks like updating the hardware or tackle bigger projects such as repainting the entire siding.
- Consider enlarging the windows to raise the buyer’s appeal and let more natural light inside the living spaces.
- Install exterior lighting because this will improve safety, make the landscaping more attractive, and allow for mood lighting during any special events.
- Apply a fresh paint of coat. This is a timeless method to freshen up a dull and worn exterior.
- Weight the advantages of adding a front porch. Many people love porches and it’s one of the best ways to add some outdoor living space to the property.
Bathrooms sell houses. You are likely to get a good deal when you put your renovation dollars into the purchased property’s bathroom. There are many ways you can bring new life into a tired-looking bathroom.
- Make the bathroom more energy-efficient. This is an important selling point when there are buyers who are into green and eco-friendly homes.
- Replace all the plumbing fixtures to modernize a bathroom that seems not to have entered the new decade yet.
- Purchase granite countertops. Install these to create a solid upscale look for the bathroom. Add spa-grade beauty products and candles to further enhance the atmosphere.
- Give a new face to the bathroom vanity: completely upgrade the sinks, cabinets, and faucets.
In a nutshell: Renovation Ideas for a Home Flip
Home flipping can be quite profitable. One of the main challenges that home flippers face is picking the right renovation projects. These are our top renovation ideas for a home flip:
- Upgrade the kitchen
- Give a new look to the bathroom
- Conduct a flooring renovation
- Update the property’s exterior
Design: UNIK interior designs (Nika Roback)
Construction: Paul Krause